According to Allaire, three factors have contributed to the strength of the non-traded, public real estate program market. First and foremost, prior investments in non-traded REITs made during the past five to seven years have performed well and delivered respectable total returns while providing stable income to investors.

In a special supplement to the winter edition of The Stanger Report, the results of the first investment performance study of the non-traded REIT industry were released. The research study analyzed the investment performance of seven public, non-traded REITs that had gone "full- cycle" with a liquidity event. These programs represented approximately 40% of the total equity capital raised by public non-traded REITs and DPPs between 1995 and 2005. Internal rates of return averaged 13.6% (with dividend reinvestment) over a five – year holding period, with the best performing program providing an IRR of 18.1%. The returns from these programs were generated while providing steady income in the range of approximately 7% per year to investors.

First-half 2007 sales of oil and gas programs totaled $135 million, compared with $139 million one year ago, and up from $111 million for the comparable period of 2005. Historically, developing oil and gas reserves is used as an effective way to hedge against inflation induced by higher energy prices and adverse geopolitical developments in the Middle East. Despite this fact, the oil and gas sector of the DPP market has not experienced the growth of the real estate sector. Currently, only two sponsors are offering programs. Oil & gas fundraising is led by Atlas Resources, Inc. which has raised $125 million so far in 2007. REEF Oil & Gas Partners LLC accounts for $9 million.

Sales of equipment leasing programs totaled $127 million, compared with $133 million one year ago, and $112 million in 2005. Currently, three sponsors are offering programs: ICON Capital Corporation ($90 million raised during the first half 2007); LEAF Asset Management, Inc. ($33 million); and Commonwealth Income & Growth Fund, Inc. ($4 million).